This is an I/O manipulator, it may be called with an expression such as out << std::fixed for any out of type std::basic_ostream or with an expression such as in >> std::scientific for any in of type std::basic_istream.

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The number 0.01 in fixed: 0.010000
The number 0.01 in scientific: 1.000000e-02
The number 0.01 in hexfloat: 0x1.47ae147ae147bp-7
The number 0.01 in default: 0.01
Parsing 0x1P-1022 as hex gives 2.22507e-308